Warning: Your Medicare Plan Could Change Without You Knowing It

Last October, my phone rang. It was Linda, one of our long-time clients. She sounded a little panicked.

“Matt,” she said, “it’s that time of year again. I just got this giant envelope in the mail about my Medicare plan. Do I need to come in for a review?”

Her voice carried the stress that so many people feel when Medicare Open Enrollment rolls around. Every fall, from October 15 through December 7, millions of Americans get bombarded with commercials, postcards, and reminder letters, all screaming: “Change your plan now!” It’s overwhelming and it leaves people like Linda wondering if they’re about to make a huge mistake by doing nothing.

But here’s the truth: not everyone needs a review. And knowing which group you fall into can save you hours of stress (and a few grey hairs).

The Three Camps of Medicare

When I sat down with Linda, I explained it like this:

• Camp One: Medicare Supplement Plan
  If you’re in this camp, you can relax. Your supplement doesn’t change from year to year. There’s no homework, no review. You’re good to go.
• Camp Two: Medicare Part D Prescription Drug Plan
  This one is a little trickier. Every September, your insurance company sends you an Annual Notice of Change (ANOC). It tells you if your premiums are going up, if your deductible is changing, or most importantly, if your medications are still covered.
  Here’s the catch: If your ANOC looks fine, you don’t need to do anything. But if you see something that affects you, that’s when you give us a call. We’ll walk you through the steps to compare plans and, if needed, make a switch.
• Camp Three: Medicare Advantage (Part C)
  This camp lives in the land of change. Advantage plans can shift from year to year…sometimes it’s benefits, sometimes networks, sometimes both. That’s why the smartest move is to call us first. We’ll help you decide if a review makes sense before you waste time worrying.

Why This Matters

When Linda opened her ANOC, she saw that two of her prescriptions were moving to a higher tier. That meant her monthly costs were about to double. Because she called, we were able to switch her to a plan that kept her costs low, and she headed into the new year without any surprises.

On the other hand, her husband Craig? He has a supplement plan. He didn’t need to do anything. We told him to enjoy his fall, skip the paperwork, and focus on turkey and football instead of Medicare.

Bottom Line

• Supplement plan? No review needed.
• Drug plan? Check your ANOC. Call us if something changes.
• Advantage plan? Call us first.

Medicare can feel like a maze, but it doesn’t have to. A little clarity goes a long way. So before you lose sleep or waste time stressing about commercials, just remember Linda, Craig, and the fact that sometimes, the best move is simply knowing you don’t need to do anything at all.

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